USD reached a one-week peak against competitor currencies, cryptos tumbled down

USD reached a one-week peak against competitor currencies, cryptos tumbled down

The Dollar was on a rising trend on Wednesday, after a mix of positive developments, including a falling euro and higher Treasury yields. On the other hand, crypto prices saw hefty losses.

The DollarIndex, a relevant indicator measuring the currency’s power against six rivals, went slightly up to 92.580, after earlier hitting the 92.590 level, the highest since September 1.

Meanwhile, the euro slipped 0.05% to $1.1836 for the first time since September 2. The yen also traded lower against the Dollar, losing 0.08%.

Treasury Bond Yields – one of the reasons for higher USD prices

The benchmark Tnote10 peaked at 1.385% on Tuesday for the first time in almost two months, a rise of almost six bp from Friday's close.

Elsewhere in the crypto market

Cryptocurrencies struggled to recover from their overnight losses, apparently due to performance issues with several trading platforms.

#BTC fell 1% to around $46,400 after dropping to $42,900 on Tuesday. Earlier that day, it had reached an almost four-month high close to $53,000.

Source: investing.com.

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